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Side-by-side financial comparison of Enphase Energy (ENPH) and Fidelity National Financial, Inc. (FNF). Click either name above to swap in a different company.
Fidelity National Financial, Inc. is the larger business by last-quarter revenue ($544.0M vs $282.9M, roughly 1.9× Enphase Energy). Enphase Energy runs the higher net margin — -2.6% vs -21.5%, a 18.9% gap on every dollar of revenue. On growth, Fidelity National Financial, Inc. posted the faster year-over-year revenue change (10.3% vs -20.6%). Over the past eight quarters, Fidelity National Financial, Inc.'s revenue compounded faster (13.7% CAGR vs -3.4%).
Enphase Energy, Inc. is an American energy technology company headquartered in Fremont, California, that develops and manufactures solar micro-inverters, battery energy storage, and EV charging stations primarily for residential customers. Enphase was established in 2006 and is the first company to successfully commercialize solar micro-inverters, which convert the direct current (DC) power generated by solar panels into grid-compatible alternating current (AC) for use or export.
Fidelity National Financial, Inc., is an American provider of title insurance and settlement services to the real estate and mortgage industries. A Fortune 500 company, Fidelity National Financial generated approximately $8.469 billion in annual revenue in 2019 from its title and real estate-related operations. The company was the first instance of an attorney licensed by a Native American Tribe being certified as "authorized house counsel" in the state of Florida.
ENPH vs FNF — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $282.9M | $544.0M |
| Net Profit | $-7.4M | $-117.0M |
| Gross Margin | 35.5% | — |
| Operating Margin | 54.0% | 82.9% |
| Net Margin | -2.6% | -21.5% |
| Revenue YoY | -20.6% | 10.3% |
| Net Profit YoY | -124.9% | -126.0% |
| EPS (diluted) | $-0.06 | $-0.44 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $282.9M | — | ||
| Q4 25 | $343.3M | $544.0M | ||
| Q3 25 | $410.4M | $553.0M | ||
| Q2 25 | $363.2M | $547.0M | ||
| Q1 25 | $356.1M | $455.0M | ||
| Q4 24 | $382.7M | $493.0M | ||
| Q3 24 | $380.9M | $506.0M | ||
| Q2 24 | $303.5M | $504.0M |
| Q1 26 | $-7.4M | — | ||
| Q4 25 | $38.7M | $-117.0M | ||
| Q3 25 | $66.6M | $358.0M | ||
| Q2 25 | $37.1M | $278.0M | ||
| Q1 25 | $29.7M | $83.0M | ||
| Q4 24 | $62.2M | $450.0M | ||
| Q3 24 | $45.8M | $266.0M | ||
| Q2 24 | $10.8M | $306.0M |
| Q1 26 | 35.5% | — | ||
| Q4 25 | 44.3% | — | ||
| Q3 25 | 47.8% | — | ||
| Q2 25 | 46.9% | — | ||
| Q1 25 | 47.2% | — | ||
| Q4 24 | 51.8% | — | ||
| Q3 24 | 46.8% | — | ||
| Q2 24 | 45.2% | — |
| Q1 26 | 54.0% | — | ||
| Q4 25 | 6.5% | 82.9% | ||
| Q3 25 | 16.1% | 81.9% | ||
| Q2 25 | 10.2% | 69.8% | ||
| Q1 25 | 9.0% | 24.4% | ||
| Q4 24 | 14.3% | — | ||
| Q3 24 | 13.1% | 61.9% | ||
| Q2 24 | 0.6% | 90.9% |
| Q1 26 | -2.6% | — | ||
| Q4 25 | 11.3% | -21.5% | ||
| Q3 25 | 16.2% | 64.7% | ||
| Q2 25 | 10.2% | 50.8% | ||
| Q1 25 | 8.3% | 18.2% | ||
| Q4 24 | 16.2% | 91.3% | ||
| Q3 24 | 12.0% | 52.6% | ||
| Q2 24 | 3.6% | 60.7% |
| Q1 26 | $-0.06 | — | ||
| Q4 25 | $0.29 | $-0.44 | ||
| Q3 25 | $0.50 | $1.33 | ||
| Q2 25 | $0.28 | $1.02 | ||
| Q1 25 | $0.22 | $0.30 | ||
| Q4 24 | $0.46 | $1.65 | ||
| Q3 24 | $0.33 | $0.97 | ||
| Q2 24 | $0.08 | $1.12 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $497.5M | $2.6B |
| Total DebtLower is stronger | — | $4.4B |
| Stockholders' EquityBook value | $1.1B | $7.4B |
| Total Assets | $2.7B | $109.0B |
| Debt / EquityLower = less leverage | — | 0.59× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $497.5M | — | ||
| Q4 25 | $1.5B | $2.6B | ||
| Q3 25 | $1.5B | $3.5B | ||
| Q2 25 | $1.5B | $3.3B | ||
| Q1 25 | $1.5B | $4.5B | ||
| Q4 24 | $1.6B | $3.5B | ||
| Q3 24 | $1.8B | $5.0B | ||
| Q2 24 | $1.6B | $4.9B |
| Q1 26 | — | — | ||
| Q4 25 | $1.2B | $4.4B | ||
| Q3 25 | $1.2B | $4.4B | ||
| Q2 25 | $1.2B | $4.4B | ||
| Q1 25 | $1.2B | $4.4B | ||
| Q4 24 | $1.3B | $4.3B | ||
| Q3 24 | $1.3B | $4.2B | ||
| Q2 24 | $1.3B | $4.2B |
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.1B | $7.4B | ||
| Q3 25 | $995.0M | $8.4B | ||
| Q2 25 | $880.6M | $7.9B | ||
| Q1 25 | $810.7M | $7.9B | ||
| Q4 24 | $833.0M | $7.8B | ||
| Q3 24 | $931.4M | $8.1B | ||
| Q2 24 | $884.5M | $7.3B |
| Q1 26 | $2.7B | — | ||
| Q4 25 | $3.5B | $109.0B | ||
| Q3 25 | $3.3B | $106.6B | ||
| Q2 25 | $3.2B | $102.3B | ||
| Q1 25 | $3.1B | $98.2B | ||
| Q4 24 | $3.2B | $95.4B | ||
| Q3 24 | $3.3B | $94.7B | ||
| Q2 24 | $3.2B | $88.8B |
| Q1 26 | — | — | ||
| Q4 25 | 1.11× | 0.59× | ||
| Q3 25 | 1.21× | 0.53× | ||
| Q2 25 | 1.37× | 0.56× | ||
| Q1 25 | 1.48× | 0.56× | ||
| Q4 24 | 1.56× | 0.56× | ||
| Q3 24 | 1.40× | 0.52× | ||
| Q2 24 | 1.47× | 0.58× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $102.9M | $1.5B |
| Free Cash FlowOCF − Capex | $83.0M | — |
| FCF MarginFCF / Revenue | 29.3% | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $145.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $102.9M | — | ||
| Q4 25 | $47.6M | $1.5B | ||
| Q3 25 | $13.9M | $1.3B | ||
| Q2 25 | $26.6M | $1.9B | ||
| Q1 25 | $48.4M | $1.1B | ||
| Q4 24 | $167.3M | $1.5B | ||
| Q3 24 | $170.1M | $2.4B | ||
| Q2 24 | $127.1M | $1.4B |
| Q1 26 | $83.0M | — | ||
| Q4 25 | $37.8M | — | ||
| Q3 25 | $5.9M | — | ||
| Q2 25 | $18.4M | — | ||
| Q1 25 | $33.8M | — | ||
| Q4 24 | $159.2M | — | ||
| Q3 24 | $161.6M | — | ||
| Q2 24 | $117.4M | — |
| Q1 26 | 29.3% | — | ||
| Q4 25 | 11.0% | — | ||
| Q3 25 | 1.4% | — | ||
| Q2 25 | 5.1% | — | ||
| Q1 25 | 9.5% | — | ||
| Q4 24 | 41.6% | — | ||
| Q3 24 | 42.4% | — | ||
| Q2 24 | 38.7% | — |
| Q1 26 | — | — | ||
| Q4 25 | 2.8% | — | ||
| Q3 25 | 2.0% | — | ||
| Q2 25 | 2.3% | — | ||
| Q1 25 | 4.1% | — | ||
| Q4 24 | 2.1% | — | ||
| Q3 24 | 2.2% | — | ||
| Q2 24 | 3.2% | — |
| Q1 26 | — | — | ||
| Q4 25 | 1.23× | — | ||
| Q3 25 | 0.21× | 3.66× | ||
| Q2 25 | 0.72× | 6.82× | ||
| Q1 25 | 1.63× | 13.43× | ||
| Q4 24 | 2.69× | 3.32× | ||
| Q3 24 | 3.72× | 8.89× | ||
| Q2 24 | 11.73× | 4.45× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ENPH
Segment breakdown not available.
FNF
| Escrow Fees | $241.0M | 44% |
| Other Title Related Fees And Income | $182.0M | 33% |
| Service Link Excluding Title Premiums Escrow Fees And Subservicing Fees | $87.0M | 16% |
| Insurance Contracts Home Warranty | $31.0M | 6% |
